The Indian market have ended on a subdued note due to weak Asian and European peers which were all down due to a sell-off in U.S. stocks overnight amid grim economic data and the downgrade of Greece's local and foreign currency bond ratings deeper into junk status by Moody's sparked worries over the outlook for global growth this year. The buzz of a probe against Dayanidhi Maran, textile minister and Anil Ambani, Chairman of Reliance ADAG (Anil Dhirubhai Ambani Group) in the 2-G case led to the toll in the market.
It appears now with this global meltdown Indian market is likely to remain in a state of consolidation for a few days. The index has been unable to sustain above the level of 5600 and thus it can remain in a tight range of 5500-5600 and can even drop to the levels of 5450. One will see breakout happening in coming few days where Nifty can either rise to 5700 level or it can fall to 5300 level and thus make use of the sure shot tips and make money daily in the market as stock market trading is a science and is to be executed with an art.
Only positive news in the market was statement by Prime Minister's Economic Advisory Council (PMEAC) Chairman C Rangarajan who stated that he expects the Indian economy to grow by 8.5% in FY12 on the back of services sector and industry expansion, though he hinted that agriculture might not be a big contributor. In economic news, India's annual food inflation rate for the week ended May 21 eased to 8.06 percent from 8.55 percent in the previous week, as prices of cereals, fruits and rice moderated, government data released today showed. The inflation remained in single digit for the tenth consecutive week
US market was down as Wall Street suffered its worst session as downbeat reports on private-sector job growth and the manufacturing sector and news of major automakers reporting weak U.S. vehicle sales for May suggested the economic recovery is running out of steam and employers hired fewer workers than forecast, fueling concerns over the outlook for the global economy.
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Support and Resistances for the Day
| Indices | Support | Resistance |
| Nifty | 5500 | 5621-5637 |
| Sensex | 18350 | 18700-18742 |
Jackpot Tip Profit
| Stock | Profit (Rs) |
| Tip | Tip not activated due to gap down opening |
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Intraday Trading Tips
| Share | Gains (Rs) |
| Tips | 8970 |
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Future and Options Daily Paid Tips
| NSE Nifty 50 Stocks | Made Money (Rs) |
| Tipz | 23580 |
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Strong future shares at National stock exchange
Colgate Palmolive, Bata India, Fortis healthcare, ITC, IDEA, Zeeltd, Dabur
Weak future stocks at NSE
Sun TV, Container Corp, Canara bank, Oriental bank, Maruti, BEL
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